{"id":193935,"date":"2023-11-12T01:30:00","date_gmt":"2023-11-12T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=193935"},"modified":"2023-11-11T13:53:34","modified_gmt":"2023-11-11T21:53:34","slug":"crude-3rd-consecutive-bear","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/crude-3rd-consecutive-bear\/","title":{"rendered":"Crude Oil 3rd Consecutive Bear Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Crude Oil Futures<\/h2>\n\n\n\n<p><strong>Crude oil<\/strong> futures. The weekly chart formed a two-legged pullback, this week it is a Follow Through bar closing below the 20-week EMA after last week&#8217;s bear signal bar, and it&#8217;s also the 3rd consecutive bear bar. The bears created follow-through selling below the 20-week EMA which increases the odds of trading lower.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crude oil futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1.png\" alt=\"3rd consecutive bear bar. Weekly Chart of crude oil futures on November 11th 2023\" class=\"wp-image-194098\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/commodities\/crude-oil-streaming-chart\" target=\"_blank\" rel=\"noreferrer noopener\">weekly Crude Oil chart<\/a>\u00a0was a bear bar closing near its low and it is the second consecutive bear bar below the 20-week EMA.<\/li>\n\n\n\n<li>Last week, we said that if this week bears creates a follow-through bear bar, that would increase the odds of lower prices. This is what happened. <\/li>\n\n\n\n<li>The bears managed to get follow-through selling and a larger second leg sideways to down.<\/li>\n\n\n\n<li>They think that this is a reversal from a larger double top bear flag (Nov 17, 2022, and Sept 28) and a lower high major trend reversal (Oct 23).<\/li>\n\n\n\n<li>They hope that the strong move up (from Jun to Sept) was simply a buy vacuum and a bull leg within a larger trading range.\u00a0<\/li>\n\n\n\n<li>Previously, the bulls had a tight bull channel from June to September.&nbsp;<\/li>\n\n\n\n<li>They see the current move as a two-legged pullback.<\/li>\n\n\n\n<li>They wanted the 20-week EMA to act as support, but now it is resistance. <\/li>\n\n\n\n<li>They hoped to get a measured move based on the height of the 41-week trading range, instead, it is testing the apex, which is a little lower. <\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bear bar closing below its midpoint, odds slightly favor the market to trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can keep trading down or if the bulls will be able to get a reversal, closing back above the 20-week EMA.<\/li>\n\n\n\n<li>Bears got a couple of strong consecutive bear bars and there is a magnet below, so traders expect sideways to down trading to follow. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely.png\" alt=\"\" class=\"wp-image-194076\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-micro-double-bottom-but-sideways-to-down-likely-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>During the week, the price did a couple of strong bear breakout bars.<\/li>\n\n\n\n<li>But then, on Thursday, the price did a bear inside bar which was also a High 1.<\/li>\n\n\n\n<li>A bad High 1 buy since it was following a strong bear breakout and also the High 1 was a doji closing around its low. <\/li>\n\n\n\n<li>Friday was a bull bar with a good bull body that comes after a micro double bottom;<\/li>\n\n\n\n<li>However, the price is likely just testing the August low and it is viewed as a Low 1 sell setup. <\/li>\n\n\n\n<li>Bears want to get to the measured move based upon the size of the Bear Flag.<\/li>\n\n\n\n<li>Furthermore, the measured move it is around the apex of the weekly trading range apex and thus, it is a magnet.<\/li>\n\n\n\n<li>Bulls would like to get consecutive bull bars, and get back above the 20-day EMA.<\/li>\n\n\n\n<li>More likely, the best that bulls can get is sideways trading during the following weeks.<\/li>\n\n\n\n<li>Odds favor a test down to the Bear Flag&#8217;s Measured Move. <\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all the weekend reports on the <a class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Crude Oil Futures Crude oil futures. The weekly chart formed a two-legged pullback, this week it is a Follow Through bar closing below the 20-week EMA after last week&#8217;s bear signal bar, and it&#8217;s also the 3rd consecutive bear bar. The bears created follow-through selling below the 20-week EMA which increases the odds [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":194098,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1892,136],"tags":[325],"class_list":{"0":"post-193935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crude-oil","8":"category-analysis","9":"tag-crude-oil-futures","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/crude-oil-josep-ft-below-20-week-ema-1.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/193935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=193935"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/193935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/194098"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=193935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=193935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=193935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}